IndustryPro Research
Advisory Approach
IndustryPro is a values-based M&A advisory firm founded in 1991 with over 30 years of experience facilitating business acquisitions, divestitures, management buy-outs, and recapitalizations. The firm operates with a distinctive philosophy: "the only deal we're interested in doing is the one done right by you." This principle shapes their entire approach to M&A advisory, prioritizing integrity over revenue and ensuring authentic advocacy for clients throughout the transaction process.
The firm's thesis centers on M&A alignment driving real outcomes. Rather than pursuing volume, IndustryPro focuses on results-oriented engagements where they are confident they can produce meaningful value for business owners. Their success-based fee model aligns their incentives with client outcomes—unlike banks that rely on large upfront fees, IndustryPro advises owners on improving company value and only engages when they believe a successful transaction is achievable.
Sector Focus
IndustryPro has developed deep expertise across 15+ industries, with particular strength in four core sectors:
Healthcare Services: The firm has closed multiple transactions in dental practices, home health care, and revenue cycle management. Their healthcare practice understands the unique regulatory and operational dynamics of medical businesses.
Residential & Commercial Trades: This represents a core competency with numerous transactions in roofing, plumbing, HVAC, electrical, and fire & life safety services. The firm's featured case study highlights a roofing company that achieved a 7X valuation through their strategic buyer network.
Technology & Professional Services: IndustryPro has completed deals in software, IT services, and business services including logistics brokerage and 3D printing.
Consumer & Manufacturing Services: The firm has experience across consumer products, manufacturing, industrial services, construction, building products, and distribution.
Deal Track Record
IndustryPro has completed 22 transactions in the past 12 months representing $2.5 billion in total transaction value. Since 1991, the firm has facilitated hundreds of transactions across sell-side and buy-side engagements.
A representative transaction includes the 2016 acquisition of Electronic Recycling Solutions (ERS) of Tooele, Utah by Advanced Technology Recycling (ATR), where IndustryPro served as buy-side advisor. This strategic acquisition expanded ATR's footprint in Western states and enhanced their capabilities in secure destruction and asset management services for the tech market.
The firm's transactions page displays over 80 closed deals across their target industries, with a notable concentration in fire & life safety, plumbing & HVAC, roofing, and software companies. Their buyer network has enabled successful exits to strategic buyers, private equity groups, and industry consolidators.
Process & Fee Structure
IndustryPro employs a modern, highly structured process optimized for speed, strategic fit, and valuation. Their methodology includes five key steps:
- Initial Phone Call: No-cost consultation with an industry-specialized dealmaker
- Outcomes Definition: Client determines desired outcome
- Buyer Introduction: Connection with qualified, industry-specialized buyers
- Authentic Advocacy: Deal evaluation, advisement, and negotiation support
- Transaction Close: Support through closing with focus on optimal terms
The firm operates on a success-based fee model with negotiable retainer arrangements. While specific fee structures are not publicly disclosed, their emphasis on success-based alignment suggests a modified Lehman or percentage-of-transaction-value structure. Minimum engagement size appears to be in the lower middle market, likely $2-5 million in transaction value.
Buyer Network
IndustryPro maintains deep relationships with strategic buyers, private equity groups, and family offices across their target industries. Their buyer network is particularly strong in:
- Residential services consolidators and national platform acquirers in trades industries
- Healthcare services buyers including dental practice management companies and home health platforms
- Technology strategics and software companies pursuing add-on acquisitions
- Private equity firms with mandates in their core sectors
The firm's "under the radar" approach means they conduct targeted introductions rather than broadcasting opportunities broadly, ensuring confidentiality while accessing qualified buyers.
Competitive Positioning
IndustryPro differentiates through several key attributes:
Values-Based Approach: The firm explicitly prioritizes integrity over revenue, providing honest advice even when it means declining engagements.
Industry Specialization: Rather than generalist coverage, their deal professionals specialize in specific sectors, bringing deeper operational understanding and buyer relationships.
Buy-Side and Sell-Side Capability: Unlike many lower middle market advisors, IndustryPro has robust practices on both sides of transactions, giving them market intelligence and buyer insight that benefits sell-side clients.
Confidential Process: Their targeted introduction model protects client confidentiality while ensuring serious buyer engagement.
Operational Experience: Several team members, including Directors like Cory Dowless (former COO) and Dan Staffieri, have operating experience, enabling them to understand the nuances of running the businesses they advise.
Not a Fit If
IndustryPro typically declines:
- Businesses below approximately $2 million in transaction value
- Companies where they lack confidence in achieving successful outcomes
- Situations requiring extensive market exposure rather than targeted buyer outreach
- Owners seeking limited process or quick exits without proper preparation
Team
IndustryPro is led by Founder and Chairman Fred Zirkle, a former NFL draft pick (1969 Mr. Irrelevant) who has personally built, bought, and sold companies globally. President Zach Zirkle leads day-to-day operations.
Key deal professionals include:
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Dan Staffieri, Director (Phoenix): Has closed nearly $800M in transaction value across software, industrial services, manufacturing, route-based services, and healthcare. Former Executive Director with M&A leadership experience at large private equity firms. BYU finance graduate fluent in Spanish.
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Cory Dowless, Director (Atlanta): Former COO of The Memory Company (licensed products manufacturer for NFL, MLB) where he led operational transformation. Previously led ABB's southeast sales team, receiving Sales Excellence Awards. Holds MBA from MIT Sloan and mechanical engineering degree from Auburn.
The firm's broader team includes over 20 professionals across two offices in Woodstock, GA and Gilbert, AZ, with industry specialists aligned by sector expertise.
Geographic Coverage
IndustryPro maintains primary offices in:
- Woodstock, GA (Atlanta metro)
- Gilbert, AZ (Phoenix metro)
The firm serves clients nationally across the United States with particular depth in Southeastern and Western markets.